Learning Activity 3: PANIC BUYING!

Our country experienced shortage of alcohol and facial masks due to COVID- 19 crisis. Explain this event/issue
using one of the four concepts of economic practices in the choices we make in purchasing products.

By using the demand-supply concept of economic practices, the shortage of alcohol and facial masks is a
result of demand increase, moreover, manufacturers were not prepared as it was an unexpected crisis that
most of the people all over the world were affected by this which results to insufficiency of supplies. In
conclusion, I have observed that, the more the demand of people for a particular product, either the price
per unit may increase or the supply of this need/want increases to meet the market demand.

WRITTEN WORK:
Learning Activity 4: LET’S APPLY!
1. Cultural differences are often expressed in the "generation gap". Choose one each from the list of symbols
mentioned that you and your parents share and believe in (e.g. religion, education, and farmily values), as
well as those that disagree with (e.g music, clothing, and love relationships). How will you explain these
differences based on the lesson.

SYMBOLS THAT I AND MY PARENTS SHARE AND BELIEVE IN;

WE BELIEVE THAT EATING TOGETHER AT THE TABLE SYMBOLYZES OUR RESPECT FOR THE BLESSINGS GOD
GIVES TO US.

SYMBOLS THAT I AND MY PARENTS DO NOT SHARE AND BELIEVE IN;

WE DO NOT BELIEVE THAT WE WILL ONLY LIVE ONCE

As we live in this modernized generation, we happen to forget cultures and beliefs from past generations,
because we are more likely on formulating new ideas and creations that affects ourselves not to look back
from our past, and I perceive new generation as innovative, which results to generation gap that signifies
how different our beliefs are from the past generations, and it is related to cultural differences because we
can recognize the differences of our cultural practices and beliefs from then and now. And I observe that we
are not aware of the practices our parents use to do and we also have our own which we practice today’s
generation.

2. Why do knowing about the cultural, social, political, economic symbols of different groups or nationality
important?

Knowing about the cultural, social, political, economic symbols of different groups or nationality is important
for our knowledge, furthermore, it provides us awareness of what symbols are the identity of different
countries, moreover, it helps us to avoid ourselves from being an ethnocentric.